Tallinna Sadam

Legal Proceedings Report • Oct 5, 2022

Company Type Category Disclosure time AS TALLINNA SADAM Company Release Other corporate action 05 Oct 2022 17:14:53 +0300

Currency

Comment on the information published in the media Title

On 04.10.2022, the article "Port of Tallinn trusted dubious investors and got stuck in disputes" (https://majandus.postimees.ee/7619790/vene-raha-tallinnasadam-usaldas-kahtlaseid-investoreid-ja-takerdus-vaidlustesse) was published in the online edition of Postimees. We publish the comment of the board of the Port of Tallinn on the information presented in the article.

This is an important development project for the Port of Tallinn. When it starts operations, will bring us additional cargo volume and ship calls both for the import of raw materials and the export of end products. We have met with the investors and CEO of MPG Agroproduction and received confirmation from them about the investors' previous work experience and activities with similar projects.

The Port of Tallinn has consistently checked the background of persons related to MPG AgroProduction OÜ (including the actual beneficiaries Roman Artemiev and Svetlana Bazhanova) and these persons have not been included in the list of sanctioned persons. According to our information, they are not criminally punished persons either.

MPG AgroProduction OÜ has made several investments - to date, environmental studies have been carried out, a preliminary project has been prepared, applied for and processed (i.e. coordinated with all statutory authorities) and a building permit was received on 01.07.2021, which has been disputed and the dispute continues to this day. Since Roheline Rist OÜ (in English: Green Cross) has appealed to the court to cancel the building permit regarding this project, we have replied to the media that the Port of Tallinn does not consider it ethical to comment on the circumstances and persons related to this project during the ongoing litigation. The Port of Tallinn is not a party to the dispute either.

Necessary studies have been carried out in connection with the project. At the stage of preparation of the preliminary project for the construction of the soybean oil factory, the "Expert assessment of the environmental impact of the

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Muuga soybean oil plant and input data for providing a preliminary assessment" has been prepared. In addition, in 2015, a summary risk analysis "Evaluation of risks related to the activities of companies located in the port area of Muuga harbour and preparation of a summary risk analysis" was carried out in Muuga harbour.

All obligations of the Port of Tallinn in relation to the project have been fulfilled: the development area has been cleared of the equipment of the former coal terminal and handed over to the developer. Suitable quays have also been built in the area in the past. The Port of Tallinn does not need to make additional investments in connection with this project.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serves annually 10 million passengers and 20 million tons of cargo in average. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries - OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. The group's sales in 2021 totalled EUR 110 million, adjusted EBITDA EUR 54 million and profit EUR 26 million.

Additional information:

Marju Zirel Head of Investor Relations Tel. +372 5342 6591

m.zirel@ts.ee (mailto:m.zirel@ts.ee)

Finantsinspektsioon http://www.fi.ee